|Expense Ratio (net)||N/A|
|Last Cap Gain||N/A|
|Morningstar Risk Rating||N/A|
|Beta (5Y Monthly)||N/A|
|5y Average Return||N/A|
|Average for Category||N/A|
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Cvent, Inc. New York, May 18, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Cvent, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service, ("Moody's") downgraded Cvent, Inc.'s ("Cvent") corporate family rating ("CFR") to Caa1 from B3, its probability of default rating (PDR) to Caa1-PD from B3-PD and the senior secured first lien revolver and term loan to Caa1 from B3. The downgrade reflects anticipated deterioration in Cvent's financial performance and liquidity as broad-based coronavirus containment measures result in cancellations of in-person meetings and events for which Cvent provides technology.
The Group Business Outlook recently released by Cvent depicts an expected drop across the board for 2019’s fourth quarter. This comes even before the impact of the coronavirus is truly felt, causing concern for what’s to come in the months ahead. Demand for group bookings was already anticipated to be low as a result of […]